Oppenheimer Asset Management Inc. Acquires 506 Shares of Celanese Co. (CE)
Oppenheimer Asset Management Inc. lifted its holdings in shares of Celanese Co. (NYSE:CE) by 20.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,014 shares of the basic materials company’s stock after acquiring an additional 506 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Celanese were worth $314,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Celanese by 24.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 206 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Celanese in the 2nd quarter worth about $150,000. Toronto Dominion Bank grew its position in Celanese by 8.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after purchasing an additional 134 shares in the last quarter. Blair William & Co. IL bought a new stake in Celanese in the 2nd quarter worth about $203,000. Finally, Advisor Group Inc. grew its position in Celanese by 46.9% in the 2nd quarter. Advisor Group Inc. now owns 2,241 shares of the basic materials company’s stock worth $212,000 after purchasing an additional 715 shares in the last quarter. 96.16% of the stock is owned by institutional investors.
CE has been the subject of a number of recent analyst reports. ValuEngine raised shares of Celanese from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Tudor Pickering initiated coverage on shares of Celanese in a research report on Tuesday, November 14th. They issued a “buy” rating for the company. KeyCorp reaffirmed a “buy” rating and issued a $106.00 price objective on shares of Celanese in a research report on Thursday, August 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Celanese in a research report on Wednesday, September 6th. Finally, Cowen upped their price objective on shares of Celanese from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $107.74.
Celanese (NYSE:CE) last released its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.01. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Celanese had a net margin of 13.66% and a return on equity of 31.98%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 earnings per share. equities research analysts anticipate that Celanese Co. will post 7.37 EPS for the current year.
In other Celanese news, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total value of $264,700.00. Following the transaction, the director now directly owns 30,175 shares in the company, valued at $3,194,929. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the completion of the transaction, the chief financial officer now owns 60,086 shares in the company, valued at $6,289,802.48. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
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Celanese Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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